$WAL The previous post asked whether the new high could hold. This time, the answer initially went the other way: it didn’t hold. The previous post’s 0.06428 level was breached, and the price reached a high of 0.06786. But it couldn’t stay at that new high and then retreated all the way back. In the past hour, it also printed a low of 0.05631, before recovering to 0.05909 USDT near the close; the lower boundary at 0.05547 wasn’t touched. The net change over this four-hour candle was only -1.40%, but the high-low range expanded from around 10% to around 20%.
The narrowing on the cost side has also stalled. The previous post was waiting for the funding rate settlement at 08:00 Taipei time. This round’s reading was -0.28%, barely changed from -0.30% in the previous round. The rate had moved steadily toward the zero line from -0.78%, but it has neither continued to narrow nor moved deeper into negative territory; the reading remains on the negative side. Trading volume, meanwhile, is still expanding: 24-hour turnover was about 42.94 million USDT, roughly 16% higher than at the time of the previous post.
Watch two levels from here: reclaiming and holding above 0.06786 would signal that upward momentum is shifting into another gear; a close below the four-hour low of 0.05631 would open the door to another leg down in the retracement. The next funding rate settlement is at 12:00 Taipei time. If the reading is still near -0.28%, the cost side will remain neutral.
However, the 24-hour return is still +51.8%, and swings of this magnitude are inherently large. The failure to hold a new high may simply mean giving back some of the sharp rally. Until the lower boundary breaks, the market hasn’t truly chosen a direction.
#MarketAnalysis
The narrowing on the cost side has also stalled. The previous post was waiting for the funding rate settlement at 08:00 Taipei time. This round’s reading was -0.28%, barely changed from -0.30% in the previous round. The rate had moved steadily toward the zero line from -0.78%, but it has neither continued to narrow nor moved deeper into negative territory; the reading remains on the negative side. Trading volume, meanwhile, is still expanding: 24-hour turnover was about 42.94 million USDT, roughly 16% higher than at the time of the previous post.
Watch two levels from here: reclaiming and holding above 0.06786 would signal that upward momentum is shifting into another gear; a close below the four-hour low of 0.05631 would open the door to another leg down in the retracement. The next funding rate settlement is at 12:00 Taipei time. If the reading is still near -0.28%, the cost side will remain neutral.
However, the 24-hour return is still +51.8%, and swings of this magnitude are inherently large. The failure to hold a new high may simply mean giving back some of the sharp rally. Until the lower boundary breaks, the market hasn’t truly chosen a direction.
#MarketAnalysis